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 Euroraum Inflation infographic
Grafik zeigt Inflation in Europa und die monatliche Basisinflation.


Europas Inflation steigt leicht

By Duncan Mil

May 3, 2023 - Verbraucherpreise in den 20 Ländern mit Euro Währung sind im April gestiegen, wordurch der Druck auf Haushalte höher wird. Die Basisinflation, ohne volatile Nahrungsmittelpreise und Treibstoffe, verlangsamte sich leicht.

The harmonised consumer price index jumped 7% in April from a year earlier, just up from the annual rate of 6.9% in March, the European Union statistics agency Eurostat said Tuesday.

Food, alcohol and tobacco price inflation eased a little, falling to an annual rate of 13.6% from March’s 15.5%, while energy prices rose a more modest 2.5%.

Core inflation slowed slightly but was still high at 5.6%, underlining the expectation that the European Central Bank will press ahead with an interest rate hike.

“Our hunch is that the Bank will pull a hawkish surprise” and decide on a half-point increase, Andrew Kenningham, chief Europe economist at Capital Economics, said in a research note.

Rate increases are the ECB’s primary tool against inflation. Higher rates increase the cost of credit for consumer spending or business investment, reducing the demand for goods.

Europe’s current inflation followed high energy prices following Russia’s invasion of Ukraine -- Moscow cut off most of its natural gas supplies, while Europe slapped sanctions on Russia’s crude oil shipments.

PUBLISHED: 03/05/2023; STORY: Graphic News; PICTURES: Getty Images